India, Canada aim to conclude CEPA trade pact by end-2026: MEA
India and Canada are working to finalize their economic partnership agreement. Negotiations for the Comprehensive Economic Partnership Agreement are progressing well. Both nations aim to conclude these important talks by the end of 2026. This agreement seeks to liberalize trade and strengthen economic cooperation between the two countries. Prime Minister Modi plans a visit later this year to…
New Delhi: India and Canada are striving to finalize the proposed Comprehensive Economic Partnership Agreement (CEPA) negotiations by the close of 2026, stated the Ministry of External Affairs (MEA). In a Rajya Sabha reply, Minister of State for External Affairs Kirti Vardhan Singh revealed that three rounds of CEPA talks have taken place thus far, with the latest occurring in Ottawa from July 6-10.
Both nations have been making strides across various negotiating tracks, with the objective of wrapping up the process by late 2026, Singh emphasized. Prime Minister Narendra Modi intends to embark on a visit to Canada later this year to further bolster bilateral relations, which have seen improvement under the present administration in Ottawa.
The MEA disclosed that the proposed India-Canada CEPA aims to establish a free trade area, achieved by either eliminating or reducing tariffs and other trade impediments. Additionally, the agreement seeks to progressively liberalize trade in goods and services, foster a more transparent, predictable, and conducive trade and investment environment, and deepen economic cooperation and personal connections between the two countries.
With a population of 41.65 million as of 2025 and a GDP of $2.34 trillion in purchasing power parity terms, Canada presents a substantial market opportunity. The India-Canada CEPA is poised to unlock and broaden bilateral trade, which totaled $8.66 billion in 2024-25, encompassing India's exports worth $4.22 billion and imports amounting to $4.44 billion, as per official data.
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